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Vendors can make the most of stamp duty deadline

IN January we have seen a significant increase in investors looking for buy-to-let opportunities. This has been mainly due to the three per cent surcharge on stamp duty that will be levied from April; if a purchase can be agreed and completed by 31 March 2016 they will avoid the increase.

Historically, investors would put in very low offers, as they were in a strong position and could take their time to secure a good deal. With April approaching fast, the clock is ticking and investors need to move fast. Vendors are making the most of the time constraints and holding out for the asking price and investors are willing to pay to move quickly to get the purchase completed in time.

This is great news for the vendors who want to sell quickly as investors make great purchasers; they usually have the finance in place, often not needing a high mortgage and sometimes are cash buyers. They are familiar to the process of buying and are easy to work with for the solicitors and agents. They don’t require lots of property reviews and once they agreed the deal rarely change their mind.

At Chelton Brown we have a huge database of investors and our vendors?ETM properties are being marketed to these buyers and at least 50 per cent of the sales we have agreed over the last six weeks have been to buy-to-let purchasers.

Would you like to sell to an investor? Call Chelton Brown now on 01604 603433.

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